(Full Newsletter can be downloaded here: http://imcbrokers.files.wordpress.com/2010/05/imc_maritime_newsletter_05172010.pdf)
Oil Spill Fight Shows Progress
BP PLC had its first breakthrough in the effort to stem the oil spill in the Gulf of Mexico, using robots to insert one end of a mile-long tube into a shattered oil pipe on the ocean floor. The goal is to siphon up some, if not most, of the crude gushing into the Gulf of Mexico.
Oil trader Trafigura eyes $1.46 billion IPO
Switzerland-based oil trader Trafigura is planning a 1 billion pounds ($1.46 billion) flotation of its industrial assets, though will look to retain a minority stake in the listed group, the Sunday Telegraph reported.
Daewoo Ship Offshore Orders to Surge on Energy Demand
Daewoo Shipbuilding & Marine Engineering Co., the world’s second-largest shipyard by orders, aims to almost triple contracts for offshore facilities this year as economic growth spurs energy demand.
Ship en route from Russia to Azerbaijan sinks in Caspian Sea
The “Kapitan Yevseyev” ship en route from Makhachkala to Baku sank in the Caspian Sea, APA reports quoting Morskie vesti. The captain and mechanical engineer were on board the ship.
U.K. Approves 2 Gigawatts of Offshore Wind
The Crown Estate has announced an additional 2 GW of capacity from the Round 1 and 2 project extensions, which would be enough electricity to meet the needs of up to 1.4 million homes in the UK.
Shell reaffirms LNG growth forecasts
Worldwide demand for liquefied natural gas (LNG) will almost double to between 350 million tonnes per annum (mtpa) and 400 mtpa by 2020 compared with about 200 mpta currently, global energy giant Royal Dutch Shell says.
Offshore oil industry faces a hard new world
Think Three Mile Island. Think the Titanic. Think the Challenger and Columbia space shuttles. The spill in the Gulf of Mexico is a game-changer on the same order.